Top 10: Cheapest Cars

Can you say “Indian Yugo?” If you missed it recently, India’s Tata Motors unveiled their Nano concept, a barely there car with an anticipated sticker price of $2,500. Even if it does reach production, there’s no way it’ll be street legal in the U.S.

So as things stand, how little can you pay to get that new car smell? Here are the top 10 cheapest cars we could find. They’re all 2008 models sold in America. The prices listed are base MSRP; that means zero options and doesn’t include destination charges, tax and so on. All features and comments relate to the most basic of each model, unless noted otherwise. We’re only showing one model per manufacturer (the cheapest, of course). And finally, when you’re shopping on a budget you want to know how much it’ll set you back each month, so we’ll estimate the cheapest possible per-month scenario with any applicable manufacturer’s program and good-credit interest rates, minus rebates since they frequently change.

Number 10

Mitsubishi Lancer

We haven’t hidden our love for the 2008 Evolution X, but for less than half the price at $13,990, the base Lancer isn’t bad, either. It’s no Evo in appearance or performance, but it looks and feels light years ahead of the base 2006 model. There are still some cheap touches — the lack of air-conditioning as a standard feature is a little sketchy — but this is easily the best Lancer yet.

It'll only cost you: $238/month (6.9% APR for 72 mos.)

Number 9

Honda Fit

Proving small can be appealing, the $13,950 Fit is a huge success for Honda. The look may be unconventional, but the Fit was designed to maximize what little space it occupies. Mission accomplished. Four adults can ride without greatly invading each other’s personal space, and the legendary Honda quality especially comes through when you’re behind the wheel. You won’t offset the low sticker price with a pile of speeding tickets, but the Fit makes good use of what it has.

It'll only cost you: $237/month (6.9% APR for 72 mos.)

Number 8

MAZDA3

It’s hard to nitpick the $13,895 MAZDA3 since it is well-sorted and feature-rich, but that’s not to say it’s perfect. This base model lets you indulge in the lost art of manually operating your windows and locks, for example. To make up for it, and then some, a tilt/telescope steering wheel with audio controls is standard. So is a tire pressure monitoring system. The variable valve timing makes the most of the 2.0-liter engine, and is fairly smooth for a four cylinder. Perfect? No, but a solid value nonetheless.